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To improve the penetration of mobile banking, Reserve Bank of India (RBI) has asked banks to provide customers multiple options for easy registration, reducing the need to visit a branch.
The time taken between registration and activation of mobile banking services should be minimal, RBI said on Thursday.
There is need for more standardisation in procedures for bringing customers, new and existing, on-board for mobile banking. So, too, for the subsequent authentication process and accessible options for generating marketing partner identification numbers (MPINs) by customers, it said.
The account opening form should clearly indicate the option for mobile banking. The option in the form should be clear and distinct from the contact details of the customer where the mobile number is also accepted. It should also be clearly indicated that alerts (if sent through SMS) will be sent to this registered number. RBI added.
Banks can use various channels or methods to quicken the MPIN generation process and to widen the accessibility to mobile banking of registered customers. For example, banks could use ATM channels, their own internet banking website with necessary safeguards and use MPIN mailers to quicken the process.
Banks started offering mobile banking services at different points of time. So, there are differences among them in registration procedures, delivery channels and authentication processes.
Generally, banks offer mobile banking services through SMS and application-based solutions. Lack of awareness and non-standardisation of procedures has led to a slow pick-up in mobile banking services, despite high mobile tele-density in the country.
